Meta to begin axing thousands of jobs worldwide
Meta chief executive Mark Zuckerberg said he took personal responsibility for being overly optimistic about the company's growth. Picture: Sam Boal/Rollingnews.ie
Tech giant Meta, owners of Facebook, is to begin laying off employees from Wednesday, with thousands of jobs set to be axed worldwide.
It is feared the job cuts will hit Meta's Irish operations, which employ thousands of people in Dublin, Cork, and Meath.
The company employs 83,500 people globally, with over 3,000 direct employees in Ireland, while a further 6,000 people support its services here.
The has reported that Meta chief executive Mark Zuckerberg told executives of the plan on Tuesday, and he took personal responsibility for mistakes made, saying he was overly optimistic about the company's growth.
Last month, Meta forecasted a weak performance for the remainder of the year, wiping about $67bn off the company's stock market value. It had already lost more than half a trillion dollars in value this year.
According to the , Mr Zuckerberg said the job cuts will be spread across the entire business.
A general internal announcement of the plans is expected at around 11am Irish time on Wednesday.
The job cuts are set to be the largest of the year to date in the tech sector, following the decision by Twitter and Stripe to drastically reduce their workforces.
It is not yet clear how the Irish operations — which include Meta’s international headquarters in Dublin, Clonee data centre, and Reality Labs in Cork — will be affected, but there are fears up to 1,000 jobs could go.
